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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Fee revenue:    
Servicing fees $ 1,368 $ 1,369
Management fees 520 493
Foreign exchange trading services 359 346
Securities finance 96 99
Software and processing fees 201 160
Other fee revenue 29 16
Total fee revenue 2,573 2,483
Net interest income:    
Interest income 521 471
Interest expense 12 4
Net interest income 509 467
Other income:    
Gains (losses) from sales of available-for-sale securities, net (1) 0
Other income 0 0
Total other income (loss) (1) 0
Total revenue 3,081 2,950
Provision for credit losses 0 (9)
Expenses:    
Compensation and employee benefits 1,232 1,242
Information systems and communications 423 421
Transaction processing services 264 270
Occupancy 95 109
Acquisition and restructuring costs 9 10
Amortization of other intangible assets 61 58
Other 243 222
Total expenses 2,327 2,332
Income before income tax expense 754 627
Income tax expense 150 108
Net income 604 519
Net income available to common shareholders 583 489
Net income available to common shareholders $ 583 $ 489
Earnings per common share:    
Basic (in USD per share) $ 1.59 $ 1.39
Diluted (in USD per share) $ 1.57 $ 1.37
Average common shares outstanding (in thousands):    
Basic (in shares) 366,542 350,743
Diluted (in shares) 372,037 355,690
Cash dividends declared (in USD per share) $ 0.57 $ 0.52